Manchester City took advantage of Liverpool's slip at the weekend to move three points ahead of the Reds but Neville feels defensive injuries could mean Pep Guardiola's side get "hurt" in their last three matches.
Speaking on 'The Gary Neville Podcast', the Sky Sports pundit said: “I do believe Wolves or West Ham could shock Manchester City.
"With Ruben Dias injured, they are going to teams who have got systems of play that can hurt City. Both teams have had good seasons. They are awkward. City will need to be at their best.
"The centre-back partnership has been obliterated. The injury is a boost for Liverpool’s chances. I do think there is something left in this title race. It won’t go plain sailing to the end."
City face away trips to Wolves and West Ham before the end of the campaign and Neville thinks they will retain their title if they win both of those games.
He said: "If City get through the next two, they’ll win it. Wolves or West Ham have to pull points off City but it’s not over.
"If Liverpool had to pick two away games to send City to it probably would be Arsenal and Tottenham, but after that, it would be West Ham and Wolves. Manchester United have gone and Chelsea have dropped their levels.
"There is a lot to play for. It’s good for the league that Liverpool are playing first and can get level. I don’t think Liverpool will drop points. They will do their job."